N.J. Senate OKs panel to study college affordability

By MICHAEL PHILLIS

State house Bureau |

The Record

The Senate voted to establish a commission to study ways to make college more affordable Monday.

The “College Affordability Study Commission” will now head to the Assembly for approval. The legislation is being pushed by Senate President Stephen Sweeney, D-Gloucester. One alternative to tuition and fees that the commission my consider would be to allow students to pay a percentage of their income for a set number of years instead of a total amount in tuition and fees.

“Students will continue to drown in a sea of debt if we refuse to take any sort of action on this issue,” said Sweeney in a statement. “We cannot stand no the sidelines and allow this to continue.”

The proposal to allow for students to pay a percentage of their income is referred to as the “Pay it Forward” program.

Sweeney said for people under 35, college debt ranked second only to home mortgages.

While more people are deciding to go to college, the amount of debt nationally that students owe is increasing quickly as well. Former students owe collectively more than $1 trillion in college loans across the country.

N.J. Senate OKs panel to study college affordability

By MICHAEL PHILLIS

State house Bureau |

The Record

The Senate voted to establish a commission to study ways to make college more affordable Monday.

The “College Affordability Study Commission” will now head to the Assembly for approval. The legislation is being pushed by Senate President Stephen Sweeney, D-Gloucester. One alternative to tuition and fees that the commission my consider would be to allow students to pay a percentage of their income for a set number of years instead of a total amount in tuition and fees.

“Students will continue to drown in a sea of debt if we refuse to take any sort of action on this issue,” said Sweeney in a statement. “We cannot stand no the sidelines and allow this to continue.”

The proposal to allow for students to pay a percentage of their income is referred to as the “Pay it Forward” program.

Sweeney said for people under 35, college debt ranked second only to home mortgages.

While more people are deciding to go to college, the amount of debt nationally that students owe is increasing quickly as well. Former students owe collectively more than $1 trillion in college loans across the country.